Singapore shares closed flat Monday as investor doubts over the pace of the global recovery crept in, dealers said. The blue chip Straits Times Index gained 1.28 points or 0.05 percent to 2,716.62. Volume totalled 1.27 billion shares worth 952 million Singapore dollars (685 million US) and there were 189 winners, 252 losers while 906 issues were even.
"The key question going forward is whether the current global recovery momentum is able to continue once the effects of fiscal stimulus wears off," analysts from DBS bank said in a report. Southeast Asia's biggest property developer CapitaLand, due to release its third quarter earnings Tuesday, closed eight cents higher at 4.43 dollars while City Developments was two cents firmer at 10.46. Singapore Airlines dropped two cents to 14.06 dollars, Neptune Orient Lines was one cent down at 1.73 and Venture Manufacturing eased two cents to 9.40.